Begbies Traynor Group performing 'beyond market expectations'

Begbies Traynor Group has reported strong growth at its annual AGM.

Executive Chairman of the group, which has offices across the South East, Ric Traynor told AGM delegates that the firm more than doubled revenue streams in five years, with pre-tax profits increasing from £5.6m to £17.8million.

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Mr. Traynor said: "Since 2018 we have increased revenue from £52m to £110m, operating margins from 11.6% to 16.9%, adjusted profit before tax from £5.6m to £17.8m and adjusted earnings per share from 4.0p to 9.1p, respectively.

"Last year was no exception, as all areas of the group delivered strong growth. Over the same period, we have also increased dividends by 10% CAGR and moved from net debt to net cash."

The group's predicted pre tax profit is in the £19.7m-£20.6million range. Mr. Traynor attributed this to the: "continuation of our strong financial track record, resulting from our organic and acquisitive growth strategy."

"We have completed two acquisitions in the new financial year: Mantra Capital, the London-based property finance brokerage, in July 2022; and the chartered surveyors' practice, Budworth Hardcastle, in June 2022."

In a statement to the LSE Begbies stated the integration of both businesses was "progressing in line with expectations."

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